System and method for providing instant-decision, financial network-based payment cards

ABSTRACT

A system and method for issuance of a financial network-based payment card (generally known as a “credit card”) almost instantaneously after application, wherein an applicant applies for a credit card by entering data into a data entry system, advantageously by filling in a plurality of predefined forms in a computer-based data entry system. The applicant&#39;s data is sent via a data network to a central decision center, which approves or disapproves the application. If the application is approved, data is generated and delivered to a card production system, which embosses and magnetically encodes a card blank. The card is then delivered to the applicant.

CROSS-REFERENCE TO RELATED APPLICATIONS

This application is a continuation application of U.S. application Ser. No. 10/898,518, filed Jul. 23, 2004, which in turn claims the benefit of U.S. Provisional Application No. 60/490,331, filed Jul. 25, 2003. The entire disclosures of U.S. application Ser. No. 10/898,518 and U.S. Provisional Application No. 60/490,331 are hereby incorporated herein by reference.

FIELD OF THE INVENTION

This invention relates to the field of financial network-based payment cards (e.g., credit cards, debit cards, etc.), and, more specifically, to a system and method that makes the time period from application to card issuance practically instantaneous.

BACKGROUND OF THE INVENTION

Network based payment card companies (e.g., MasterCard, Visa, American Express, etc.) are constantly soliciting applicants for their credit cards. Many of these solicitations take place in the form of mail or telephone. Such solicitations are frequently discarded or blocked so that the potential applicant does not even see or hear about the card.

On the other hand, there are many situations in which a person is more likely to participate in a credit card solicitation. For example, people waiting in line at theme parks, sport events, etc. may be more inclined to listen to a credit card solicitation and apply while they are waiting on line. Such application generally consists of the applicant filling out a form and having the solicitor send it to a possessing center. Generally however, applicants may be more inclined to apply if the credit card could be supplied virtually instantaneously.

Therefore there is a problem in that obtaining a credit card from application to delivery cannot be done where the applicant is most likely to apply.

SUMMARY OF THE INVENTION

This invention provides a system and method for issuance of a financial network based payment card (generally known as a “credit card”) almost instantaneously after application. According to an aspect of this invention, an applicant applies for a credit card by entering data into a data entry system, advantageously by filling in a plurality of predefined forms in a computer-based data entry system.

Advantageously, the computer-based data entry system is handheld, so that an applicant can hold the device in one hand and enter data with the other. Also advantageously, the computer-based data entry system communicates with a local area network using wireless communication protocols such as Wi-Fi, Bluetooth, etc. The applicant's data may be encrypted before transmission for security.

The data entered by the applicant may be cross-referenced to a government-issued identification (e.g., a driver's license or passport), another credit card, or both. The applicant's data is then delivered to a decision system via a data network. The decision system indicates approval, disapproval or a pending decision. The decision and other information are relayed into a fulfillment center, which may be on-site at the place of data entry. If disapproved, the applicant is not notified on-site, but rather at a later date. In addition, before the information is displayed at the fulfillment center, the disapproval decision may be converted to a pending decision to protect the applicant's privacy, among other things. Pending decision means further review must be conducted. Further review generally is conducted at a site different from the fulfillment center.

If the application is approved, information regarding a credit card is delivered to an on-site card production system. The on-site card production system produces a credit card, which includes an embossed credit card number (which may be a temporary number) and any data magnetically encoded on it. This card can then be utilized on the various network point-of-sale networks (e.g., MasterCard, Visa, American Express). The fulfillment center verifies the applicant's identification information and delivers the card to the applicant. The card may be a permanent card that can be used anywhere the issuing association of the card, such as MasterCard or VISA, is accepted. Alternatively, the card may be limited in use to the on-site merchant (e.g., a theme park) and may be limited in time. If the card is so limited, a final card may be mailed to the applicant.

This process has proven to provide high data accuracy and high customer participation.

BRIEF DESCRIPTION OF THE DRAWINGS

A more complete understanding of this invention may be obtained from a study of this specification taken in conjunction with the drawings, in which:

FIG. 1 is a block diagram of an exemplary embodiment of this invention;

FIGS. 2 a-c are a flow chart of processing a credit card application in the context of FIG. 1; and

FIGS. 3-13 are exemplary screen shots of data entry screens for an exemplary data entry system according to one aspect of this invention.

DETAILED DESCRIPTION

Turning now to FIG. 1, a block diagram illustrating an exemplary embodiment of this invention is shown, generally at 100. Box 102 represents an on-site data collection and fulfillment center. On-site center 102, may be, for example, at a theme park. While this exemplary embodiment is described in the context of theme park, this invention is not so limited. On-site center 102 may be an office in a strip mall, a fair, sporting event or other location. One skilled in the art will appreciate the versatility of this invention and the many situations in which this invention may be used.

At on-site center 102, there are a plurality of tablet computers, represented by tablet computer 104 and tablet computer 106. Tablet computers 104 and 106 are used for gathering data regarding an applicant as will be discussed further, below. Tablet computers 104 and 106 are in communication with wireless network 108, in this exemplary embodiment. Wireless network 108 is in communication with local area network 110 at the on-site location 102.

An applicant enters his or her personal data in tablet computer 104 or 106, as will be described further, below in connection with FIGS. 3-13. The data is advantageously encrypted and then transmitted via wireless network 108 to local area network 110 within the theme park and eventually to a decision system 124 as described below.

Alternatively, an applicant can enter data at a personal computer or work station 112 using a keyboard in the manner known in the art. Also alternatively, an individual may fill out a paper application and hand it to a person on-site working at personal computer 112. Furthermore, all forms of entering data may take place simultaneously.

Applicant's personal data is then routed from local area network 110 through data network 114. In this exemplary embodiment, data network 114 comprises the Internet. While this exemplary embodiment of this invention is being described in terms of the Internet, one skilled in the art will appreciate how to practice this invention using any data network, public or private, after studying this specification.

Once the applicant's personal data arrives at a processing center, it passes through a firewall 116, as is known in the art. Transaction processor 118 receives the applicant's personal data, decrypts it as necessary and optionally checks it for integrity. If the data passes the integrity check, it is entered into a fulfillment database 120. Fulfillment database 120 tracks the progress of the transaction and can be accessed by personnel involved in the application process.

Transaction processor 118 submits the applicant's personal data to an input queue 122 of a decision system 124. Decision system 124 makes a determination as to whether or not to approve the applicant. An example of a decision system is the Capstone Decision System. However, one skilled in the art will appreciate that the invention is not limited to this type of decision system. Fraud screeners (not shown) may be used to review the applicant's data for potential fraud issues prior to finalizing the determination of the decision system 124. When decisions system 124 is finished, it places the decision on output queue 126 which then updates fulfillment database 120.

Transaction processor 118 is notified by fulfillment database 120 when the decision system 124 has completed. Alternatively, transaction processor 118 may periodically query fulfillment database 120 to determine whether a particular applicant has been approved.

In this exemplary embodiment of this invention, decision system 124 may approve an applicant, may disapprove an applicant or may mark the application as pending meaning further review is necessary. Such further review is generally performed at a later time. Transaction processor 118 receives the approval, disapproval or pending status and reacts accordingly. In accordance with this exemplary embodiment, transaction processor 118 delivers an approval along with the data necessary to imprint and encode a credit card (credit card numbers, etc.) back through data network 114 to local area network 110. If the decision was disapproval or pending, transaction processor 118 sends that information back through data network 114 without card data. The approval, disapproval, or pending decision may be transmitted back to the appropriate input device 104, 106, or 112 to give the applicant an immediate response.

Return data from the transaction processor 118 arrives at card fulfillment center 128. Card fulfillment center 128, in this exemplary embodiment, includes workstation 130 and card embosser and encoder 134. Work station 130 receives applicant's card information (if the applicant was approved) or pending status. If the applicant was approved, work station 130 causes card embosser and encoder 134 to generate an embossed and encoded credit card. The applicant presents identification at the fulfillment center 128. The card may be activated at work station 130 and delivered to the applicant. Alternatively, the applicant may first present his or her identification and then the card is made. This order of steps has the advantage of not printing cards if an applicant changes his or her mind. In addition to providing the applicant with a payment card, the applicant may also be provided credit line and annual percentage rate (“APR”) information.

In accordance with one aspect of this invention, the credit card may be fully operationally at any network point of sale for the particular network-based payment card (e.g., MasterCard, Visa, American Express, etc). Alternatively, the card may be only valid at the on-site location 102 where the card was issued (again, such as a theme park). Further, the card may be limited for a predetermined duration and then a permanent card sent to the applicant via the mail. Additionally, the card may be temporarily limited in an amount that may be charged.

An experimental system in accordance with this invention can have a credit card ready in less than five minutes from application to card imprinting. Having the credit card available where the application was taken has been demonstrated to improve willingness of applicants to apply. Thus, the combination of speed and local availability of the credit card provides great advantages over the prior art.

Turning now to FIG. 2 a-c, a flow of operations of an exemplary embodiment of this invention is shown. In this flow chart, actions take place on-site 102, in data networks 110 and 114 and in decision and data systems 118 and 124. Processing starts on-site 102 in oval 200 and proceeds to manual input 202 where the applicant fills out forms. Processing moves to decision diamond 204 where the applicant's identification is verified. If the applicant cannot verify his or her ID, processing ends in oval 206.

If the applicant verifies his or her ID, then processing moves to action box 208 where the application is submitted. Processing then moves through data networks 110 and 114 as the applicant's personal data is transported to decision system in box 210. Decision and data systems 118 and 124 receive applicant's personal data in box 212 and performs any data verification and updates the database. Processing continues from FIG. 2 a to FIG. 2 b via connector A.

Turning now to FIG. 2 b processing enters through connector A and then proceeds to action box 214 where the applicant's personal data is submitted to a decision system. Processing moves to decision diamond 216 where determination is made if the application has been approved. If the application has been approved, then processing moves to action box 218 where card data is generated. In this exemplary embodiment, card data includes any embossed data account information and, importantly, data for the magnetized card strip.

Processing from action box 218 and from decision diamond 216 (if the application was not approved) moves to action box 220 where the decision and card data (if generated) is sent back to the on-site location. The decision is sent through data networks 114 and 110 in box 222 and received at the on-site location in box 224. Processing proceeds through connector B to decision diamond 226, FIG. 2 c. Continuing with FIG. 2 c, a determination is made in decision diamond 226 whether the application has been approved. If the application has not been approved then the applicant is informed that the status is pending further review at 227. If the applicant was approved at decision diamond 226, then processing proceeds to box 228 where a card is embossed and encoded. Processing proceeds to decision diamond 230 where the applicants identification is verified. If an applicant cannot verify his or her identification then processing ends in oval 232.

If, in decision diamond 230, the applicant verifies his or her ID then the card may be activated in box 234. A message may be sent through data networks in box 236 to system inbox 238 and activation confirmation delivered back through data networks box 236 to box 234. A determination is then made in decision diamond 240 whether the card was successfully activated. If the card was not successfully activated then an error code is delivered. If the card was successfully activated then a card is issued to the applicant in oval 244.

FIGS. 3-13 illustrate exemplary embodiments of data entry screens in tablet computers 104 and 106. Tablet computers are desirable in this application because they can be held in one hand while the applicant enters data with the other. Input may be via a touch screen or a stylus. A personal digital assisted device, laptop computer, or other computer device (with or without wireless capacity) could also be used. One skilled in the art will appreciate that any input device that is appropriate for the environment in which it will operate may be used. FIG. 3 illustrates an exemplary log in screen for an applicant. A person soliciting card applications (herein called “a handler”) enters his or her own identification and location information. In the screen of FIG. 4, the handler enters identification information of the applicant, such as driver's license and existing credit card, and verifies that he or she has seen the photo identification.

In the screens of FIGS. 5-9, additional information about the applicant is entered. Not all data entry fields shown in these figures are required, but some are, such as the applicant's social security number. In the screen of FIG. 5, the applicant fills out his or her name and address. In the screen of FIG. 6, the applicant fills out information such as social security number, date of birth, phone number and identification such as mother's maiden name. In the screen of FIG. 7, the applicant is asked for employment information and in FIG. 8 enters income. In the screen FIG. 9, the applicant may optionally enter an e-mail address in order to receive information regarding card member products.

Terms and conditions are agreed to in the screen of FIG. 10. In the screen of FIG. 11, the applicant selects one of a choice of credit card designs. The handler, in the screen of FIG. 12, again verifies the applicant's information and enters the handler's own identification information.

It is to be understood that the above-described embodiment is merely illustrative of the present invention and that many variations of the above-described embodiments can be devised by one skilled in the art without departing from the scope of the following claims and their equivalents. 

1. A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of: receiving, at a first site, personal data from an applicant located at the first site; sending the personal data from the first site to a decision system; determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant; sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant; generating, at the first site, a temporary credit card with the unique identifying information; issuing the temporary credit card to the applicant at the first site, wherein the temporary credit card is configured for use in a limited geographic area comprising the first site; conducting a further evaluation of the applicant to determine whether to issue a permanent payment card configured for use on any point-of-sale network associated with the issuer of the permanent credit card; and issuing the permanent credit card.
 2. The method of claim 1, wherein issuing the permanent credit card comprises replacing the temporary card.
 3. The method of claim 1, wherein issuing the permanent credit card comprises reconfiguring the temporary card into the permanent card.
 4. A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of: receiving, at a first site, personal data from an applicant located at the first site; sending the personal data from the first site to a decision system; determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant; sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant; generating, at the first site, a permanent credit card with the unique identifying information; activating the permanent credit card for use in a limited geographic area comprising the first site; issuing the permanent credit card to the applicant at the first site; and following a predetermined amount of time, activating the permanent credit card for use on any point-of-sale network associated with the issuer of the permanent credit card.
 5. A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of: receiving, at a first site, personal data from an applicant located at the first site; sending the personal data from the first site to a decision system; determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant; sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant; generating, at the first site, a permanent credit card with the unique identifying information; activating the permanent credit card for use in a limited geographic area comprising the first site; issuing the permanent credit card to the applicant at the first site; and following further evaluation of the applicant, activating the permanent credit card for use on any point-of-sale network associated with the issuer of the permanent credit card.
 6. A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of: receiving, at a first site, personal data from an applicant located at the first site; sending the personal data from the first site to a decision system; determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant; sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant; generating, at the first site, a temporary credit card with the unique identifying information; issuing the temporary credit card to the applicant at the first site, wherein the temporary card is a limited-use credit card; conducting a further evaluation of the applicant to determine whether to issue a permanent credit card configured for use on any point-of-sale network associated with the issuer of the permanent credit card; and issuing the permanent credit card.
 7. A computer-implemented method for issuance of a credit card by an issuer, comprising the steps of: receiving, at a first site, personal data from an applicant located at the first site; sending the personal data from the first site to a decision system; determining at the decision system, whether to issue the credit card based on information comprising the personal data and financial information regarding the applicant; sending unique identifying information to a card-generating device located at the first site, responsive to a determination to issue the credit card to the applicant; generating, at the first site, a temporary credit card with the unique identifying information; issuing the temporary credit card to the applicant at the first site, wherein the temporary card is a limited-use credit card; conducting a further evaluation of the applicant to determine whether to issue a permanent credit card configured for use on any point-of-sale network associated with the issuer of the permanent credit card; and determining, based on the further evaluation, not to issue the permanent credit card. 